Canaccord Thinks the Selloff in Gambling Stocks is Overdone, Retains Buy Rating on Flutter Entertainment (FLUT)

Core Viewpoint - Flutter Entertainment plc (NYSE:FLUT) is identified as one of the best beaten down growth stocks to buy now, despite a recent target price cut by Canaccord [1]. Group 1: Company Overview - Flutter Entertainment plc is an online betting and gaming company primarily operating in the United States, the UK, Ireland, and Australia, founded in 1988 and based in New York [4]. Group 2: Market Sentiment and Performance - Canaccord reduced its target price on Flutter Entertainment by 10% to $270 from $300 but maintained a Buy rating, citing that the market's negative sentiment towards digital gambling stocks was an overreaction [1]. - The decline in total handle (total bets) in December, which was $747 million, represented a 9.3% decrease from the previous year, while revenue increased by 351.6% to $68 million due to an improved hold rate [2]. - US-wide figures showed a total handle of $13.5 billion in December, a 14.4% decline from the previous year, yet revenue rose by 78.4% to $1.7 billion, with the hold rate improving to 12.3% [3].